Mining remains a powerhouse of the North West according to a new report from the Queensland Resources Council.
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QRC Chief Executive, Ian Macfarlane said Queensland’s resources sector contributed $1.3 billion to the Mount Isa economy in 2016-17 and supported the equivalent of 8424 full-time jobs.
The figures are in QRC’s economic contribution report which found that over the 12 months the resources sector accounted for 39 per cent of Mount Isa’s Gross Regional Product.
Mr Macfarlane said with the election campaign into its final week the QRC’s eighth economic contribution report was a timely reminder of the importance of the resources sector to the local economy.
“Spending benefited 441 Mount Isa businesses, while resources companies made voluntary contributions to 51 local community organisations and charities which in turn helped them to provide vital services,” Mr Macfarlane said.
“Every Queenslander has a vested interest in seeing our minerals and energy industries succeed and share in the $3.8 billion in royalties paid by the sector over the year.”
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Mr Macfarlane said these results signal the continued transition of the resources sector from an investment phase of record capital expenditure into an operational phase of making sure that this new production capacity is being delivered as efficiently as possible.
“The state’s North West has the potential to unearth vast amounts of copper, zinc and gold which are the minerals used in new technologies including batteries, mobile phones and solar panels,” he said.
“The state’s contribution to the future of these technologies could be secured with the North West.”
The report, an independent analysis prepared by regional economic experts Lawrence Consulting, found the resources sector’s economic contributions were achieved in a strict environmental management framework and only using 0.1% of Queensland’s land.